Bitdeer's hash rate has soared by 420%: the company has increased its bitcoin mining output nearly fivefold over the past year.
Public mining company Bitdeer demonstrates impressive scaling dynamics. According to my analysis of operational metrics for May, the firm mined 921 BTC, a 370% increase compared to the same period last year when only 196 BTC were extracted. This explosive growth is directly linked to the aggressive expansion of computing power.
Bitdeer's proprietary hash rate increased by nearly 420% — from 13.6 EH/s to 70.2 EH/s. This is one of the highest growth rates among public miners, indicating the company's strategic focus on efficient infrastructure scaling. Notably, alongside the increase in mining output, Bitdeer grew its bitcoin treasury by 98 BTC in May, bringing it to 171 BTC. However, it is worth noting that a year ago the figure stood at 1,351 BTC — this suggests that the company likely actively sold a portion of its mined coins to finance capital expenditures and operational activities.
Analytical Commentary: A 420% increase in hash rate with a "mere" 370% rise in mining output may indicate a temporary decline in efficiency due to the deployment of new capacity or changes in network difficulty. Nevertheless, such scaling rates place Bitdeer among the leaders in production base expansion among public miners. The key question is whether the company can sustain this pace amid growing competition and the upcoming halving.